Tax Justice UK
  • Home
  • Projects
    • Taxing Wealth
    • Tax and public opinion
    • Tax and the climate crisis
    • Ending tax dodging
  • About
    • Our approach
    • People
    • Funders
    • Sign up
    • Jobs
  • Blog
  • Donate

We are facing a cost of living catastrophe

20/1/2022

 
Picture

The impact of the cost of living crisis hit home this week in a Twitter thread by food campaigner Jack Monroe.

Jack pointed out that the official figure of a 5% increase in the cost of living massively underestimates the true costs faced by ordinary families. Looking at basic goods, Jack estimated that the price of pasta is up 141% in a year, canned spaghetti up 169% and rice up a whopping 344%. 


Weekly shopping bills appear to be rocketing and that's not all. The country is bracing for higher fuel bills. At the same time workers on very low incomes will be asked to pay a higher national insurance rate from April. Many people will also see steep council tax rises in the spring. Much of this is driven by councils increasing taxes to help fund social care costs. 

What is the government going to do about these bread and butter issues? 

On tax, Rishi Sunak has a choice. He can continue to ask those with the least to contribute even more.

Or he can ask those with the broadest shoulders to pay a fairer share instead.


The richest have done very well financially during the pandemic. Research from Oxfam found that the fortunes of the 10 wealthiest men in the world have doubled under covid.

A group of over 100 millionaires are calling for governments around the world to introduce wealth taxes. They estimate that a progressive wealth tax in the UK could raise £44 billion a year. It would only affect the very rich by starting once someone’s wealth was over £3.6 million. 

Tax is about political choices. It would make much more sense to close the tax loopholes open to the rich and powerful than focus on raising national insurance. 

If the pandemic taught us anything it's that we all rely on low paid care workers, nurses and shopkeepers who dug us out of the covid crisis. The cost of living is shaping up to be a huge political issue. We will continue to campaign for those with the greatest wealth to contribute their fair share.


Comments are closed.

    Posts

    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    March 2019
    January 2019
    December 2018
    November 2018
    October 2018
    June 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    August 2017
    June 2017
    May 2017

    Categories

    All

    RSS Feed

Tax Justice UK is a Company Limited by Guarantee in England & Wales (no. 10761736)
Registered Address: C/O Godfrey Wilson, ​Mariner House, 62 Prince St, Bristol BS1 4QD

Tax Justice UK is a partner of (but independent from) the Tax Justice Network

Privacy policy
Terms and conditions for using this website
Equality and Diversity Statement

If you have concerns about Tax Justice UK, you can make a complaint using this email address complaints@taxjustice.uk.

This website is published under the Creative Commons Attribution Licence
​Tax Justice UK campaigns for a better tax system to benefit everyone in the UK.
Media enquiries:  +44 (0)7413 729 505 (24hrs) 
Phone: +44 (0)20 3637 9137
​Email: mail AT taxjustice.uk
Picture
  • Home
  • Projects
    • Taxing Wealth
    • Tax and public opinion
    • Tax and the climate crisis
    • Ending tax dodging
  • About
    • Our approach
    • People
    • Funders
    • Sign up
    • Jobs
  • Blog
  • Donate